The New Damietta City Development Authority has announced the public auction of 17 commercial stores, with areas ranging from 12 to 83 square meters. Additionally, two pharmacies and two administrative and professional units, with areas ranging from 50 to 56 square meters, will be available for bidding in various locations across the city.
According to the information available, the terms and conditions booklet can be purchased from the authority’s headquarters for EGP 299 per store, pharmacy, or administrative or professional unit. The public auction session will be held on Sunday, April 20, 2025, at noon at the headquarters of the New Damietta City Development Authority.
Each pharmacy must pay a security deposit of EGP 100,000 before the auction session. Meanwhile, each commercial store must pay a security deposit of EGP 50,000 by the same deadline. The security deposit for the administrative and professional units is EGP 25,000, which must also be paid before the auction session.
At the end of the auction, the winning bidder must pay 10% of the selling price, 1% as administrative fees, and 0.5% for the benefit of the Board of Trustees for each store or pharmacy. Regarding the administrative and professional units, 25% of the selling price must be paid upon the auction completion, along with 1% as administrative fees and 0.5% for the benefit of the Board of Trustees.
A maintenance deposit must also be paid within one month before receiving the unit. According to the authority’s regulations, the remaining amount can be paid in installments through a facilitated system. Site visits are allowed daily during official working hours. The auction is subject to the provisions of Law No. 182 of 2018, which regulates contracts made by public entities.